The world’s largest arms manufacturers report a 5.9% surge in revenue last year, reaching an unprecedented total of $679 billion. This increase is largely attributed to heightened demand resulting from ongoing conflicts in Ukraine and Gaza, as well as escalating military budgets across various nations.
Among the notable gains, European companies witnessed a 13% rise in collective income, while U.S. firms, including Lockheed Martin and General Dynamics, contributed significantly despite facing delays in major projects. A report from the Stockholm International Peace Research Institute highlights that domestic needs, particularly in Russia, have bolstered arms revenue amid international sanctions, while issues in the Chinese arms sector led to a decrease in Asia.
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